Very true. But if he were, it doesn't make me feel any better. Lots of FTT sympathizers out there. Not to mention another 1.5 Trillion dollar a year in healthcare costs. While were at 20 Trillion on the ND.
Who do we owe?
Lets not start that again. 6 Trillion overseas, for starters. Which makes it a huge problem. If you want to shaft American banks that created money out of thin air and bought Treasuries, I'm all for it. If you want to shaft gramp, gram and your postman of their Social Security, you'd call that capitalism run amok. The only party we can effectively 'write off' is the FED. And they hold around 2.4, if im not mistaken.
Is it? What are our overseas assets?
You mean the Federal Governments? Not much. I did the math on this already last year. The Treasury has something like 300 Billion in foreign denominated assets and gold. We'd have to sell land, like Greece. And thats the rub. We end up like Greece. Privately, I'm sure Americans and American companies hold Trillions. But its back to the same scenario. We rob Peter to pay Paul. Lose lose.
So in a fantastical scenario, like all the various foreign entities we owe decided to coordinate their repayment demands, "making it all due and at once", we could in fact sell... oh, never mind, never going to happen.
